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Impact of BRICS Agreement Over Economy of Brazil, Russia, India, China and South Africa

XIBA Business Review

Volume 3 Issue 1 & 2

Published: 2017
Author(s) Name: Nadiminti Rajesh Kumar, Lakshmi Ananth, Bharath Senapathy | Author(s) Affiliation: Lecturer, Department of Pharmaceutical Management, NIPER, Hyderabad, Telangana, India.
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Abstract

This paper provides contemporary climate, deep rooted economic conditions for FTA (free trade agreement), BRICS. In light of changing global economy this paper traces GDP, unemployment and inflation change before and after the FTA. BRICS Nations together has 22.2% of global output, 17.2% Global trade and 40% of global population. The significance of trade and GDP were highlighted during 6th BRICS summit Brazil 2014, which paved much deeper agreement and talks with respect to strategy for economic partnership trade and Investment Corporation. The significance of international trade among BRICS countries was highlighted during the Sixth BRICS Summit in Fortaleza, Brazil in 2014. Secondary data was collected from various sources for the past 20 years and analysis is done using basic regression in SPSS.

Keywords: BRICS, Free Trade Agreement, Economic Impact, Trade, Inflation, GDP, Unemployment

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